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Globalisation


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Globalisation
The increasing integration of world economies meaning that goods, people , resources and intellectual property are increasingly mobile around the world.
Cheaper communication
A characteristic of globalisation where the costs of communication are made cheaper by technological innovations such as email.
Lowering of trade barriers
A characteristic of globalisation whereby protectionism around the world has been reduced to facilitate more global trade.
Collapse of communism
A political change that has meant previously isolated countries are now integrated into world trade networks.
Opening up of China
The development of trade with the world's largest economy by population, a contributory factor to globalisation
Transnational companies
Companies which operate across national boundaries.
Foreign direct investment
Investment by overseas companies, setting up bases e.g. Factories in other countries
Exploitation
A negative aspect of globalisation, it can be seen in the 'sweatshop' labours conditions in some developing countries producing clothing and manufactured goods for export
External costs
Negative effects on third parties. Some of these can be global in nature, for example acid rain falling in some countries can be caused by the production of pollutants in other countries. See also glo
Increased inequality
Richer countries benefitting more greatly from increased world trade compared with poor countries.
Global instability
The increased integration of world markets can lead to problems having a 'knock on' effect throughout the world e.g. the spread of the global credit crunch due to the integration of world financial ma
Deglobalisation
Efforts to reduce the pace of globalisation e.g. By increased protectionism
Global imbalances
Large discrepancies between the balance of payments of different countries e.g. The USAs huge current account deficit and China's surplus. It is argued these are unsustainable.